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The last catalyst for gold is cryptocurrencies backed by gold.
There are dozens of gold-backed cryptos sprouting up.

Peter Grosskopf, the CEO of Sprott, recently called gold-backed cryptocurrencies “the most important thing to happen to the gold market in the last several decades.”
Soon after, Sprott launched a gold-backed crypto it developed with its partners.
When Sprott – a leader in the natural resources industry – makes a big move into the gold-backed crypto space, it’s a definitive sign of where things are headed.

Gold-backed cryptos combine the best attributes of gold and cryptos. I can’t think of two other asset classes that have as many synergies. In other words, the whole is worth much more than the sum of the parts.
With cryptos redeemable for gold, we can now instantly send anyone anywhere in the world small or large amounts of gold – reliably and without interference. It’s nothing short of a monetary revolution.

Gold-backed cryptos are going to make using gold as money even more convenient for the average person and business. Anyone with a cell phone now can use gold in a way that was not possible before.
This is another big reason why I think gold is coming back as money.

Kinesis engages Contis Group to launch UK and European debit card for its digital gold and silver currencies

London 4th June, 2019

Today, Kinesis Money announces the initiation of its UK and EU debit card program with Contis Group, the award-winning platform as a service (PAAS) that provides end-to-end banking and payments solutions. Kinesis has selected Contis for its European and UK debit card solutions and has officially started developments, scheduled for release in Q4.

The release of these EUR and GBP-denominated debit cards will cement Kinesis’ position in the market as a formidable global fintech player. The Kinesis debit card will allow Kinesis’ clients in the UK and Europe to easily and efficiently use their Kinesis currencies to make purchases anywhere that has a merchant facility, as well as withdraw funds via global ATM networks.

Kinesis is an evolutionary monetary system using the real assets of gold and silver as the basis for digital currencies. These currencies provide a 1:1 allocation of physical bullion, with the transaction fees accumulated whenever the currencies are sent, spent or traded and then proportionately redistributed to Kinesis currency and token holders as a velocity-based yield. These yields grow as the user base grows and recur forever, creating a monthly income for users, against everyday transactions and holdings.

The new debit card is to be powered through a partnership between Kinesis Money and Contis which enables customers to leverage their extensive partner network. Contis Financial Services Ltd is authorised by the Financial Conduct Authority.

The Kinesis debit card is set to be integrated into the highly anticipated Kinesis Monetary System, scheduled to launch in Q3 2019, providing seamless spending and management of the Kinesis, blockchain-based, gold and silver-based currencies.

The last catalyst for gold is cryptocurrencies backed by gold.
There are dozens of gold-backed cryptos sprouting up.

Peter Grosskopf, the CEO of Sprott, recently called gold-backed cryptocurrencies “the most important thing to happen to the gold market in the last several decades.”
Soon after, Sprott launched a gold-backed crypto it developed with its partners.
When Sprott – a leader in the natural resources industry – makes a big move into the gold-backed crypto space, it’s a definitive sign of where things are headed.

Gold-backed cryptos combine the best attributes of gold and cryptos. I can’t think of two other asset classes that have as many synergies. In other words, the whole is worth much more than the sum of the parts.
With cryptos redeemable for gold, we can now instantly send anyone anywhere in the world small or large amounts of gold – reliably and without interference. It’s nothing short of a monetary revolution.

Gold-backed cryptos are going to make using gold as money even more convenient for the average person and business. Anyone with a cell phone now can use gold in a way that was not possible before.
This is another big reason why I think gold is coming back as money.

Kinesis engages Contis Group to launch UK and European debit card for its digital gold and silver currencies

London 4th June, 2019

Today, Kinesis Money announces the initiation of its UK and EU debit card program with Contis Group, the award-winning platform as a service (PAAS) that provides end-to-end banking and payments solutions. Kinesis has selected Contis for its European and UK debit card solutions and has officially started developments, scheduled for release in Q4.

The release of these EUR and GBP-denominated debit cards will cement Kinesis’ position in the market as a formidable global fintech player. The Kinesis debit card will allow Kinesis’ clients in the UK and Europe to easily and efficiently use their Kinesis currencies to make purchases anywhere that has a merchant facility, as well as withdraw funds via global ATM networks.

Kinesis is an evolutionary monetary system using the real assets of gold and silver as the basis for digital currencies. These currencies provide a 1:1 allocation of physical bullion, with the transaction fees accumulated whenever the currencies are sent, spent or traded and then proportionately redistributed to Kinesis currency and token holders as a velocity-based yield. These yields grow as the user base grows and recur forever, creating a monthly income for users, against everyday transactions and holdings.

The new debit card is to be powered through a partnership between Kinesis Money and Contis which enables customers to leverage their extensive partner network. Contis Financial Services Ltd is authorised by the Financial Conduct Authority.

The Kinesis debit card is set to be integrated into the highly anticipated Kinesis Monetary System, scheduled to launch in Q3 2019, providing seamless spending and management of the Kinesis, blockchain-based, gold and silver-based currencies.

1. Can the cryptocurrency be converted into physical gold on demand? How easy is the process?

2. Does the company disclose how it stores the gold?

3. Who is storing the gold that backs the cryptocurrency? Is that company trustworthy?

4. Is the gold insured?

5. Does the company have a well-known and reputable auditor? If the company is not audited, then it can easily issue more tokens than gold, thereby creating fractional reserves.

6. What happens if the company goes bankrupt? Is it a limited liability company that could leave investors empty-handed?

7. What blockchain are the gold tokens built on? Is that blockchain secure?

8. Do you know how to store the private key to the wallet that controls the gold tokens? What happens if you lose the key? What happens if the key is stolen?

9. Gold-backed cryptocurrencies are similar to ETFs, which may make them subject to securities laws in Europe and the US. Is the company selling the cryptocurrency regulated? Does it store the gold in a country that has approved their token?

10. Where can the gold-backed token be traded? Gold ETFs are traded on exchanges, but there are currently no cryptocurrency exchanges that are licensed to trade tokenized ETFs.

11. How much liquidity does the gold-backed cryptocurrency have? Can you really close a position in case of a liquidity trap? The largest gold-backed cryptocurrency, Digix Gold Token, has a small daily trading volume of USD 243,000 over the past year, and USD 27,000 over the past month.

12. What is the total expense ratio for the tokenized shares of the gold fund? The most famous gold ETF, SPDR Gold Shares, has a management expense ratio (total fund costs / total fund assets) of only 0.40%.

13. What is the business model of the coin? How do the people who created the coin make money? If there is not a clear way that they are profiting, then be suspicious of indirect costs or high risk.

I feel that critical (attention) mass has been reached. Next jump... to the moon.

Originally Posted by goldsilber

SHB, admit it
you are just envious because my threads are getting more clicks than yours

This isn't Facephone or Twatter, so unless you are joking, that's the last time that I'll compliment the quality of your posts.
I haven't compared our post counts, so I'll take your word for it.
Congratulations on being popular.

One day closer to lift-off. 🚀

SHB, this is a 3-guys-forum ... with massive infrastructure issues on top!

Under the circumstances, I wouldn't take myself too seriously here.
Let's levitate the situation

(Just waiting for valerb to feed me again with other succulent news about gold-backed cryptos...)

I hope the place becomes popular again.
Of course it would help if the bugs were removed from the browser interface and data.
Perhaps a site reboot will come, and when it does I probably won't like it, because I don't do mobile computing..

"I foresee little future in 'the price of silver', I see a huge future for 'the price in silver'." - heartbone"The truth is called hate by those who hate the truth." - K

In the silverseek forum, how not to mention a silver-backed cryptocoin?
Interesting remarks, among others, about how Lode could concur in further tightening the physical market

Mike Gleason: You are involved with the LODE project. It's an effort to combine the advantages of cryptocurrency with the stability and confidence of physical metal. The tokens are backed by actual silver sitting in a vault, and we encourage listeners to check that out at LODE.one.

David Smith: And the LODE project, being backed by silver, each AGX coin is backed by one gram of silver and each LODE token, which creates a silver mass, is backed by the gram of silver and it's stored in eight vaults around the world. And when these coins start trading, we had a soft launch this spring in Anarchapulco, but when they start fully trading we'll have a Visa type of card for our debit that you can use. You'll be able to speculate on the value of silver in relationship to buying AGX coins, and there'll be store of value. I think what's going to be amazing, it's hard to predict exactly how long it will take and what that footprint will look like when it gets out there, but I think of people in South America, like in Venezuela and in Mexico and Chile and these places, and Africa and in India, I think they're going to really like this idea of not only having a crypto asset, but one that's backed by physical metal and that can be redeemable upon demand at some place somewhere in the world in a different vault.

It's pretty exciting, and it's exciting to me that David Morgan, who's had this vision for his whole professional life, of somehow getting silver as money back into the public usage. And it's not going to end up in our pocket, but it won't to. It'll end up digitally on a card that we have. And in India, 100,000 people a day are opening wallets, which they put cryptocurrencies in, and so they're not going to need a big discussion about what are the benefits. They already know what it is.

And so this whole idea, it's going to involve more physical metal being sold, because every time an AGX coin is created and purchased, the LODE program has to go in and buy silver in the open market to back that. And so you'll have a new demand factor, which we've never had before, on physical silver in addition to more and more investors coming back into the market buying physical silver and gold. So, I think these things are going to come together in a way that will be a perfect storm for demand and a perfect problem that's going to be hard to solve for supply over time with silver. And I don't think the market is understanding what this could be like, and it could be a massive outlier that really knocks the supply situation out of kilter in relationship to demand.